For the year ending 2025-12-31, ARQT had -$28,737K decrease in cash & cash equivalents over the period. -$6,311K in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Loss from operations | -12,227 | -128,397 | - | - |
| Interest income | 8,897 | - | - | - |
| Interest expense | 12,083 | 27,168 | - | - |
| Other income (expense), net | 443 | 16,173 | - | - |
| Provision for income taxes | 1,171 | 647 | - | - |
| Net loss | -16,141 | -140,039 | -262,140 | -311,458 |
| Depreciation | - | 640 | 771 | 622 |
| Non-cash interest expense | - | - | 4,030 | 2,606 |
| Non-cash lease expense | - | 408 | 360 | 319 |
| Stock-based compensation expense | 40,364 | 41,730 | 38,813 | 32,682 |
| Amortization of intangible assets | 4,667 | 1,959 | 750 | 312 |
| Acquired in-process research and development | - | 0 | 0 | 29,630 |
| Non-cash interest expense | 1,756 | 5,404 | - | - |
| Net accretion on marketable securities | 2,094 | 6,901 | 6,989 | 2,253 |
| Loss on disposal of property and equipment | - | - | - | 0 |
| Change in fair value of embedded derivative instrument | - | 279 | -849 | - |
| Other non-cash items, net | -652 | - | - | - |
| Accounts receivable, net | 73,163 | 47,259 | 17,349 | 8,458 |
| Inventories | 7,329 | 400 | 5,620 | 7,514 |
| Prepaid expenses and other current assets | 2,007 | 948 | 8,621 | -3,472 |
| Accounts payable | -1,694 | 2,229 | 3,152 | 1,565 |
| Accrued liabilities | 50,044 | 32,033 | 5,594 | 1,193 |
| Operating lease liabilities | -680 | -735 | -657 | -433 |
| Net cash used in operating activities | -5,625 | -112,158 | -247,057 | -257,715 |
| Purchases of marketable securities | 246,986 | 254,820 | 225,840 | 415,389 |
| Proceeds from maturities of marketable securities | - | 288,783 | 406,500 | 351,473 |
| Proceeds from maturities and sales of marketable securities | 227,419 | - | - | - |
| Purchases of property and equipment | 686 | 143 | 428 | 333 |
| Acquisition of in-process research and development | - | 0 | 0 | 15,450 |
| Milestone payment for intangible asset | 10,000 | 5,000 | 0 | 7,500 |
| Proceeds from initial public offering, net of issuance costs | - | - | - | 0 |
| Net cash provided by (used in) investing activities | -30,253 | 28,820 | 180,232 | -87,199 |
| Proceeds from issuance of common stock, net of issuance costs | 0 | 161,682 | 0 | 161,592 |
| Repayment of long-term debt | 0 | 100,000 | - | - |
| Proceeds from issuance of common stock upon exercise of stock options | 4,597 | 2,807 | 1,247 | 1,016 |
| Proceeds from issuance of common stock for espp | 2,376 | 1,713 | 1,175 | 1,922 |
| Proceeds from issuance of common stock and pre-funded warrants, net of issuance costs | 0 | 0 | 95,765 | - |
| Proceeds from long-term debt | - | 0 | 0 | 125,000 |
| Proceeds from issuance of shares under atm, net of issuance costs | 0 | 0 | 3,136 | 14,455 |
| Payment of debt issuance costs | - | 0 | 0 | 2,187 |
| Net cash provided by financing activities | 6,973 | 66,202 | 101,323 | 301,798 |
| Effect of exchange rate changes on cash | 168 | -235 | -50 | - |
| Net increase (decrease) in cash, cash equivalents and restricted cash | -28,737 | -17,371 | 34,448 | -43,116 |
| Cash, cash equivalents and restricted cash at beginning of period | 71,952 | 89,323 | 54,875 | 97,991 |
| Cash, cash equivalents and restricted cash at end of period | 43,215 | 71,952 | 89,323 | 54,875 |
Arcutis Biotherapeutics, Inc. (ARQT)
Arcutis Biotherapeutics, Inc. (ARQT)